100 50 j28 TOVISion ision for Bonus Provision for Tax Proposed Dividend Total Assets Fixed Assets at Cost Less : Depreciation Sundry Debtors 3,400 Rs. In Lakhs 1.300 - 400 900 Stocks and Stores Loans and Advances Cash and Bank Balances 700 1,200 500 100 The projected Profit & Loss Account for the first four months in the year 2006-07 shows the followings: June July Particulars Sales excise duty Recoveries April May 800 800 80 80 900 900 90 90 880 880 990 990 1.200 1.200 1.260 1,320 600 660 720 720 1.260 1,320 Material opening stock Add: Purchases Less : Closing Stock Net Expenses Excise Duty TOTAL Profit/Loss 1.200 600 1,320 660 600 7,200 180 180 200 200 80 84 88 864 948 860 20 90 1,012 (20) 16 42 The following are relevant additional information: 1. 10% of sales are for cash and the balance on 30 days credit. 2. Creditors for purchases are paid in 30 days. 3. Expenses include: a. Interest payable at the end of each quarter. b. Depreciation of Rs. 10 lakhs per month. c. Provision for bonus to workmen of Rs. 5 lakhs per month, payable only in October, 2006 d. One half of the rest of the expenses payable in the month concerned and the following month. 4. Rs. 200 lakhs of debentures are redeemable by 30th June. 5. Provision for taxation includes Rs. 20 lakhs of surplus provisions carried forward earlier years besides the balance for the year 2005-06 payable before 31" May, 2006. 6. Annual General Meeting is to be held on 31" May, 2006. 7. Overdraft is permissible interest on which may be ignored. You are required to prepare Cash Budgets for the months of April to July 2006 on a monthly basis